Yamana’s pending takeover by Pan American Silver Corp. and Agnico Eagle Mines Ltd. will see Marrone move on from a company he started two decades ago to try his hand at private equity. The Yamana acquisition, if approved by shareholders on Jan. 31, would be the biggest gold deal since last February.
Marrone has advocated for consolidation in an industry that has wrestled with underinvestment and depleting reserves. Top gold miners including Newmont Corp. and Agnico have bulked up through acquisitions in recent years, catching the eye of investors. Still, a vast number of junior and mid-sized producers don’t get the same attention and have struggled to raise capital.
“The result of all that is there’s not only less money to go around but there’s less money that chases quality opportunities,” Marrone, 63, said.
That’s partly why Marrone plans to start a private equity venture aimed at investing in gold mines in his…
